Recession in 2008

An act was passed in1933 to keep
banks, insurance companies, and investments companies separate from each other.
It was repealed in 1998 during the Clinton administration andits
repeal is believed by some to have been a cause in the 2008 recession.

Environmental degradation

Environmental degradation
is the deterioration of the environment through depletion of resources such as air, water and soil; the destruction
of ecosystems
and the extinction of wildlife. It is defined as any change or disturbance to the
environment perceived to be deleterious or undesirable.[1]
As indicated by the I=PAT equation, environmental impact (I) or degradation is
caused by the combination of an already very large and increasing human
population (P), continually increasing economic
growth or per capita affluence (A), and the application of resource
depleting and polluting technology (T).[2][3]

John Paul II, Address in
Santa Barbara, California (8 November 1997); cf. JOHN CHRYSSAVGIS, On Earth as
in Heaven: Ecological Vision and Initiatives of Ecumenical Patriarch
Bartholomew, Bronx, New York, 2012.